I. Historical price changes of gold
1, gold 1800-2002
2, the situation of each time period
Overview of gold price trend in the past 50 years
1968-1980 gold price chart
1980- 1990 gold price chart
199 1 -2000 gold price chart
200 1 -20 10 gold price chart
2005 -20 12 gold price chart
1971August 15, US President Nixon delivered a televised speech, closing the golden window and stopping governments or central banks from holding US dollars for gold. The dollar broke free from the cage of gold and floated freely in the foreign exchange market.
1972, the price of gold in the London market rose from $46 per ounce to $64.
1973, gold price exceeded 100 USD.
From 1974 to 1977, the price of gold fluctuated between 130 and 180.
1978, crude oil soared to $30 per barrel and gold price rose to $244.
1979, the price of gold rose to $500. From June 5438 to 10, the inflation rate in the United States exceeded 12%.
Two trading days before 1 month, 1980, the price of gold reached $634, and US Treasury Secretary Miller announced that the Ministry of Finance would no longer sell gold. In less than 30 minutes, the price of gold rose by $30 to $7 15, and 1 month 2 1 day reached a new high of $850. US President Carter had to come out to suppress the gold market, saying that he would definitely safeguard the position of the United States in the world at all costs. At the close of the day, the price of gold fell by $50.
1February 22, 980, the price of gold plummeted 145 USD. The first contemporary gold bull market came to an end in 12 years. The price of gold rose from $35 in 1968 to $850 in 1980. During the period of 12, there is 30% interest every year.
198 1 this year, the price of gold reached the peak of 599 dollars per ounce. By 1985, the market potential has dropped to about $300. From 65438 to 0987, after the U.S. stock market plunged, the price of gold peaked at $486, and then fell all the way.
65438+February 1 0989: The price of gold denominated in US dollars has dropped by 52% from the all-time high of1850 US dollars on October 20th. In this decade, the inflation rate in the United States has increased by 90%, and Japan, which is famous for its low inflation rate, is also at the level of 20%.
1989 165438+1October 15: the price of gold rose from $350 in mid-September to 39165438+1October 1.5.
1989 65438+February 9:1After the gold price reached US$ 427 on October 27, the news that the Soviet Union sold a lot of gold came out in the market, which made the market price fluctuate greatly.
1May 24, 990: There was a sell-off of 18.7 tons (27,000 ounces per ton) of gold in the market, which was brought out by American liquidators to cash out the gold held by savings and loan banks and finance companies that recently filed for bankruptcy, and the price of gold plummeted to $360.
1September 5, 990: When Iraq invaded Kuwait, the price of gold rebounded from $370 to $4 17, and then returned to $383.
1February 5, 1996: The price of gold once rose to $465,438 +08.5, breaking the previous high of $409 set by 1993.
Since the end of 2005, the price of gold has risen sharply in history, from the original level of 400-500 USD/oz to the highest point of 1923.20, and then began to gradually fall back.
The current price is as follows:
Second, the cost of gold and other factors.
1. The American economy has stabilized: After experiencing the turmoil of the financial crisis, the American economy has remained relatively stable in the past five years. Although the economic growth is moderate, it is generally stable. Although the once-in-a-lifetime severe cold reduced GDP by 1% in the first quarter, economic data began to improve in the second quarter.
2. The strength of the US dollar: In 2000, the US dollar index fell by 4 1%, which pushed the price of gold up sharply. Since then, the dollar has become a reverse indicator of precious metals such as gold and silver. Today, the US economic recovery has driven the US dollar to strengthen, putting pressure on gold.
3. Inflation is at a low level: Although some people predict that hyperinflation may occur, the US CPI has been very moderate. There is no sign of inflation in the past five years. This also makes gold's function of fighting inflation ineffective, and gold has lost an important support.
4. Geopolitics: Although the world is chaotic, there is no panic. Of course, there were many regional conflicts in the first half of this year, but their scope was regional. The Ukrainian crisis is mainly a Russian problem, while the conflict between China and neighboring countries is only an Asian problem. It seems that some places are always on the brink of war, but geopolitics will not be the dominant factor in gold prices this year.
The golden history has experienced three big bears and three big cows. Among the big bears that have experienced the fourth time, they are still going on and need to wait patiently.